Salvage – this legal term finds application in the Maritime Law, where refers to award, claimed by person, called “salvor” who saves goods from shipwreck, moves a vessel out of dangerous place or repairs a broken ship. Usually, when being part of a contract, the salvage is calculated either as a fixed sum for the efforts put by the salvor or as a percentage of the value of the saved goods upon successful completion of the rescue operation only. Until receipt of their award, the salvor can set-up a salvage lien over the saved goods/items.

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